JANUARY 7, 2003

Ferrari will float this year

Ferrari boss Luca di Montezemolo, in Detroit for the North American International Automobile Show, has revealed that Ferrari will list its shares on the stock exchange later this year.

"We will do it this year," Montezemolo told the Reuters news agency, although he would not confirm exactly when the public offering would be made. It is anticipated that the shares being made available to the public will be the 34% owned by a consortium of investment banks. Montezemolo said that the idea of Alfa Romeo becoming part of the Ferrari-Maserati group was "fascinating" but added that it was all theory at the moment.